2014-04-29 16:00Financial Performance - Net profit attributable to shareholders was a loss of RMB 445.98 million, compared to a loss of RMB 385.43 million in the same period last year[9]. - Operating revenue decreased by 23.31% year-on-year, totaling RMB 13.64 billion[9]. - The net cash flow from operating activities was negative at RMB 522.53 million, a decline of 177.03% compared to the previous year[9]. - The weighted average return on equity decreased by 0.27 percentage points to -1.95%[9]. - The group's operating revenue was 13.64 billion RMB, a year-on-year decrease of 23.3%, primarily due to reduced steel sales and falling prices[14]. - The net loss attributable to shareholders was 446 million RMB, an increase of 61 million RMB compared to the previous year[14]. - Revenue for Q1 2014 was approximately ¥13.64 billion, a decrease of 23.8% compared to ¥17.79 billion in Q1 2013[22]. - Net loss for Q1 2014 was approximately ¥478.45 million, compared to a net loss of ¥376.91 million in Q1 2013, representing a 27% increase in losses[22]. - The company's basic and diluted earnings per share for Q1 2014 were both ¥(0.06), compared to ¥(0.05) in Q1 2013[22]. - The net loss for Q1 2014 was ¥437.79 million, an improvement from a net loss of ¥489.34 million in Q1 2013, reflecting a reduction in losses by 10.5%[34]. Assets and Liabilities - Total assets at the end of the reporting period reached RMB 71.37 billion, a slight increase of 0.08% compared to the previous year[9]. - Total assets as of March 31, 2014, were approximately ¥59.01 billion, slightly down from ¥59.16 billion at the end of 2013[29]. - Total liabilities increased to approximately ¥37.75 billion as of March 31, 2014, compared to ¥37.46 billion at the end of 2013[32]. - The company's total equity decreased to approximately ¥21.26 billion as of March 31, 2014, from ¥21.69 billion at the end of 2013[32]. - Cash and cash equivalents at the end of Q1 2014 were approximately ¥2.46 billion, up from ¥1.81 billion at the beginning of the quarter[26]. - The total cash and cash equivalents at the end of Q1 2014 stood at ¥4.65 billion, an increase from ¥5.20 billion at the end of Q1 2013[39]. Production and Sales - The company produced 4.02 million tons of pig iron, 4.19 million tons of crude steel, and 4.01 million tons of steel products, representing year-on-year decreases of 6.07%, 3.90%, and 5.87% respectively[14]. - The crude steel production in China for the first quarter was 202.7 million tons, an increase of 2.4% year-on-year[13]. - The domestic steel price index at the end of March was 94.83 points, down 11.42% year-on-year[13]. - The international steel price index was 164.75 points at the end of March, a decrease of 8.01% year-on-year[13]. Shareholder Information - The total number of shareholders at the end of the reporting period was 332,301[11]. - The largest shareholder, Ma Steel (Group) Holding Co., Ltd., holds 50.47% of the shares[11]. Future Outlook and Strategy - The company expects cumulative net profit for the year to potentially be a loss, with significant challenges anticipated in the steel industry[16]. - The company plans to enhance product quality and order fulfillment rates while maintaining a low inventory strategy in procurement[14]. - The board proposed no cash dividends for 2013, which will be submitted for shareholder approval[17]. Cash Flow - Cash flow from operating activities showed a net outflow of ¥461.37 million in Q1 2014, contrasting with a net inflow of ¥2.76 billion in Q1 2013[37]. - Cash flow from financing activities resulted in a net outflow of ¥63.17 million in Q1 2014, compared to a net outflow of ¥3.32 billion in Q1 2013, indicating improved cash management[39]. - Investment activities generated a net cash inflow of approximately ¥1.73 billion in Q1 2014, compared to a net outflow of ¥240.81 million in Q1 2013[24]. - The company reported cash inflow from investment activities of ¥1.64 billion in Q1 2014, significantly higher than ¥871.44 million in Q1 2013[39]. Accounting and Reporting - The company did not change its accounting policies or estimates compared to the last financial report[41]. - There were no changes in the scope of consolidation for the group compared to the last financial report[42].